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Leveraging ERC and SETC for Eternal Purposes

Trusted Guidance for the Employee Retention Credit and the Self-Employed Tax Credit

Self-Employed Tax Credit*

If you earned income in 2021 as a sole proprietor, 1099 independent contractor, owner of an LLC, or owner in a partnership, you may be eligible for a tax refund of up to $32,220.

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*SETC is a nickname given to the Paid Sick and Family Leave credits made available to self-employed individuals under the American Rescue Plan Act, March 11, 2021 under Sections 9642 and 9643.

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“Dean and his team at One Bridge Advisors are dear friends and can be trusted for your ERTC and SETC needs. We have appreciated his heart and wisdom in these matters.”

Tim Clinton, President and Founder
American Association of Christian Counselors

Who is Eligible?

Nonprofits

Churches

Ministries & Organizations

Private Schools

Business Owners

Impact Ideas

Ministries and nonprofits could claim up to $26,000 per employee.

Mission Funds & Support

Local Outreach

Facility Maintenance

Ministries & Programs

Building Projects & Upgrades

Ministerial Staff & Admin

Without consultation, plans are frustrated. But with many counselors they succeed.

Proverbs 15:22

OneBridge Advisors in a consulting group in Richmond, VA that provides professional guidance on tax credits and other financial opportunities that are often overlooked. Current examples of this include the Employee Retention Credit (ERC) and the Self-Employed Tax Credit (SETC). 

“Businesses should seek out a trusted tax professional who actually understands the complex ERC rules…”

-IRS Commissioner Danny Werfel, September 14, 2023

We only recommend professional firms that are under the counsel of tax attorneys and have third-party CPAs who sign the filings. The firms we recommend for ERC have the highest standards possible for compliance, accuracy, and documentation.

On September 14, 2023, the IRS published the ERC Eligibility Checklist and an FAQ section to make it easier for taxpayers to determine their eligibility for ERC.

OneBridge Advisors™ is pleased to provide our document, ERC Eligibility Simplified, which combines these two tools to help employers more quickly and accurately assess if they are a good candidate for ERC.

Meet OneBridge Senior Consultant, Dean Francis

With over three decades of experience, Dean has built a solid reputation for his exceptional ability to understand and convey intricate financial and tax concepts. He leverages these skills to deliver significant value to both businesses and nonprofits. As a former fiduciary financial advisor and now a seasoned business consultant, Dean works closely with some of the nation’s leading tax attorneys and employee benefits professionals. His extensive experience has uniquely equipped him to navigate the complexities of tax credits and develop the advisory program at OneBridge Advisors.

"The biggest mistake people make about ERC and SETC is expecting their accountant to fully and accurately know about them. These are very niche Covid-related credits that expire April 18, 2025. Our diligent research enables us to connect people to trusted, reputable experts who specialize in these credits. Our recommended partners ensure compliance and maximize the refunds.

The firms we recommend for ERC have the highest standards possible for compliance, accuracy, and documentation. Their proven experience is unmatched in this space.

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How We Have Helped

CharacterWorks (Youth Theater) - $120,000 • Mercy Mall of Virginia (Non-Profit) - $62,000 • Restaurant Owner With 16 Locations - $4,900,000 • Insurance Agency - $120,000 • Inpatient Mental Health Provider - $3,500,000 • Little Lights Daycare - $387,000 • Walkers Carpets - $380,000 • Sweet Frog Franchise Owner - $280,000 • Nice Wildlife Service - $61,000 • JH Ranch - $489,000 • Office Technology Company - $1,900,000 • Office Equipment Provider - $170,000 • Crossfit Pushin Weight - $54,000 • Phillips Telecommunications - $85,000 • IT Services Business - $790,000 • Restaurant Owner With 4 Locations $2,200,000 • Used Car Dealer - $620,000 • Restaurant Owner With 1 Location - $520,000 • Superior Walls of Central Virginia - $770,000 • Landscaping Company - $1,200,000 • Cinco Christian School - $400,000 • Electrical Contractor - $1,400,000 • Jail Ministry - $280,000 • Church - $310,000 • Private Christina School - $2,000,000 • FourSquare Early Learning Center $373,000 • Bethel Bible Fellowship Church $98,000 • A Cybertechnology Company $775,000 • A Property Management Company $3,200,000
Discover why so many businesses have chosen to partner with OneBridge Advisors for their ERC filing. Explore a list of some of our clients and watch inspiring testimonial videos that showcase the real-life experiences of businesses that have put their trust in us.

How ERC Works

We help guide you through the process.

ERC OVERVIEW VIDEO

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“The ERC is a misunderstood tax benefit – with small and medium business owners and managers of charities either not knowing about the ERC or being wrong (or more likely outdated) about what they do know.”

– Forbes February 15, 2022

“The ERC is a misunderstood tax benefit – with small and medium business owners and managers of charities either not knowing about the ERC or being wrong (or more likely outdated) about what they do know.” – Forbes February 15, 2022

Our CPA said our business (or non-profit) doesn’t qualify because we didn’t have a decline in gross revenue.

“ERC is an eligibility matrix.” Bloomberg Tax August 10, 2022.

ERC is complex, and is much more about law than accounting, which is why it’s vital to seek advice from a firm that specializes in ERC, and is under the counsel of a tax attorney. A significant decline in gross revenue is only one way to qualify. We estimate over 75% of claims made do not qualify this way. Rather, they qualify because they experienced more than a “nominal effect” caused by a government order. There are hundreds of pages of legislation IRS guidance that help describe eligibility.

We don’t qualify because we received a PPP loan.

This was changed by the Consolidated Appropriations Act that went into effect in 2021.

Our business remained open, so we don’t qualify.

“ERC is an eligibility matrix.” Bloomberg Tax August 10, 2022.

ERC is complex. IRS Notice 2021-20 expands the definition of “partial suspension” to include factors beyond closing your doors.  It is vital to seek advice from a firm that specializes exclusively in ERC to make this determination

Everyone qualifies because everyone was affected.

Unfortunately not. There has to be a nominal impact that was caused directly or indirectly by a Covid-19 government ordinance.

We will have to pay it back with penalties if we are audited.

This is true only if you don’t follow the rules and document it. This is another reason why we recommend a  firm that specializes in ERC with tax attorneys who know the law and guarantee their work. These firms also allow you to review the filing prior to it being submitted to the IRS. You can review the submission package prior to it being submitted to the IRS with your tax advisor as an extra “double-check.”

According to my accountant, I will be a target for an IRS audit if I use a 3rd party to make this filing.

The IRS has warned twice as of May 2023 to beware of 3rd party solicitations that seem ‘too good to be true.’  Similar to PPP loans and Social Security claims, there are always schemes and frauds. Rightfully so, the IRS is concerned by the number of seemingly unqualified companies now advertising for ERC. While there is zero evidence that you are more likely to be audited, our recommended providers prepare all their filings as if each client was audited.  If for any reason you are audited for this filing, that firm would be completely prepared to win the audit by showing the documentation that supports your claim.

ERC FREQUENTLY ASKED QUESTIONS

What makes my business ineligible?

You are not eligible if you do not pay W2 wages outside of owners and their family members by blood or marriage. You are not eligible if you did not experience a ‘nominal impact’ on part of your business from government mandates related to Covid-19. If you are the latter, it often takes an in-depth analysis to make this determination. There is no financial risk to do this.

Can a closed business apply for ERC?

Yes, if you closed temporarily but paid W2 Employees in some of the seven eligible quarters, you may qualify.

What is the minimum number of employees to claim ERC?

It’s hard to find anyone who will do this work for less than 5 full-time employees. However, we have a partner firm willing to do it.

What if the business was bought or sold during 2020-2021?

Whoever owns the EIN can file for this credit. The checks are made to the entity/EIN that paid the W2 wages during 2020-2021. As an example, if a business owner sold the assets of the business (customer list, equipment, logo, etc), but retained the EIN, they can still make this claim. If your number is fewer than five, we recommend asking your accountant if you qualify for any of the quarters available under “a significant decline in gross revenue.” This is a rather simple calculation, and if you qualify under one quarter for this, you can often claim one or two more quarters after this. You can also look at the IRS website to see these rules. If you do qualify for some of the seven quarters this way, ask an accountant with ERC filing experience to help you.

If you do not qualify under gross revenue decline for any quarters and have four full-time employees, we can sometimes get an exception. The problem is that the CPA firm that does this work for you often loses money because the claim is so small.

The majority of the money to be claimed is found in the first three quarters of 2021. The more full-time employees you had then, the greater your possible claim is.

What about clergy?

Clergy who claim the housing allowance are excluded from the employee count.

What does it mean to be eligible by 'partial suspension'?
Let’s start with an easy example. A restaurant is ordered to shut down its in-store dining, but that same restaurant was permitted to offer drive-thru, pick-up, and/or catering. It requires more rules to define partial suspension under supply chains or other situations that limit commerce, travel, or group meetings. Much of these rules are covered in IRS Notice 2021-20, which is 102 pages. For a shorter read, here are some FAQs from the IRS website. https://www.irs.gov/newsroom/covid-19-related-employee-retention-credits-determining-when-an-employers-trade-or-business-operations-are-considered-to-be-fully-or-partially-suspended-due-to-a-governmental-order-faqs
Where can I read what the IRS says about qualifying for ERC under 'partial suspension' or 'nominal impact'?

The best place to read is IRS Notice 2021-20. https://www.irs.gov/pub/irs-drop/n-21-20.pdf You can also read IRS FAQs. https://www.irs.gov/newsroom/covid-19-related-employee-retention-credits-determining-when-an-employers-trade-or-business-operations-are-considered-to-be-fully-or-partially-suspended-due-to-a-governmental-order-faqs There is additional IRS guidance on the IRS website in addition to the legislation. The original legislation is found under section 2301 of the CARES Act, but it was revised three times after this.

ERC IN THE NEWS

Forbes, February 2022

The Employee Retention Credit (ERC) has proven to be one of the most effective tax policies in helping small and medium businesses and tax-exempt entities weather the economic impact of the pandemic. The ERC provides employers with up to...

Forbes, December 2022

In 2021, I published a piece about the top myths regarding the Employee Retention Credit (ERC) that was preventing business owners, charity managers and Indian tribes from claiming this important tax incentive. Now, the misinformation has gone the...

Experian Employer Services, October 2022

Among the many and varied COVID relief measures instituted by the federal government, the Employee Retention Credit (the “ERC”) stands out as one of the most significant to US employers as well as one of the most complex. While the ERC has not...

ERC IN THE NEWS

Forbes,
February 2022

The Employee Retention Credit (ERC) has proven to be one of the most effective tax policies in helping small and medium businesses and tax-exempt entities weather the economic impact of the pandemic...

Forbes,
December 2022

In 2021, I published a piece about the top myths regarding the Employee Retention Credit (ERC) that was preventing business owners, charity managers and Indian tribes from claiming this important tax incentive...

Experian Employer Services,
October 2022

Among the many and varied COVID relief measures instituted by the federal government, the Employee Retention Credit (the “ERC”) stands out as one of the most significant to US employers as well as one of the most complex....

SETC services are powered by GigWorker Solutions, recommended by OneBridge Advisors.

Passion Community Church

PCC mistakenly believed they did not qualify. After a more thorough evaluation, they qualified for $683,000.

People's Advantage FCU

CEO Amanda Habansky originally tabled pursuing ERC due to a lack of clarity. After hearing Dean Francis speak at a banking event, she chose to retain a professional firm Dean recommended. People’s Advantage qualified for $570,000.  

Veritas School

Like most, Head of School Keith Nix was originally told that they didn’t qualify, but he refused to give up, and kept looking into it. Once he connected with one of our partner firms, Veritas qualified for a significant amount.

Southern Brick

Greg’s company Southern Brick saw an increase in gross revenue during 2020-2021. He was doubtful he would qualify, and almost didn’t try. After being evaluated under the nominal impact part of ERC legislation and IRS guidance, Southern Brick qualified for $1,024,000.

Philips Telecommunication Inc.

Tom’s bookkeeper helped him file for $19,000. After a more thorough analysis with a specialty CPA firm we recommended, Tom qualified for an additional $85,000.

DBA Advertising

Dan had already filed for ERC through a traditional accounting firm. Based on Dan’s employee count, we felt it was incomplete, and recommended a specialty CPA firm to do a more thorough evaluation. Dan realized $335,000 more.

Mercy Mall

Mercy Mall is a nonprofit based in Richmond, VA, serving families in crisis. One of their board members is a tax attorney. They qualified for $62,000.

Honey Lake Clinic

Dan had already filed for ERC through a traditional accounting firm. Based on Dan’s employee count, we felt it was incomplete, and recommended a specialty CPA firm to do a more thorough evaluation. Dan realized $335,000 more.

Character Works

Clients

Businesses

A+ Roofing 
American Association of Christian Counselors
Angus Dentistry
Atkinson Truck Sales
Bert’s Garage
Burger Bach 
Buz & Ned’s 
Cafe Y Sabor
Car Credit Nation
Central Virginia Insurance 
Chris M Ashby, DDS
Angus Dentistry
Christian Counseling Assoc of Western PA
Cobb Technologies
Codeblue Technology
Crossfit Pushin Weight
Daniel Brian Advertising
Deshazo & Son Roofing
Dominion Lightworks
Dominion Lock & Security
Dr. George Varkey, DMD
DRP Collision
Eddie’s Truckworx
Elite Contracting Group 
Energy Pro Heating & Cooling
Fahrenheit Advisors
Figtree Therapy
Greenbrier Management Company
Grub Restaurant Group 
Minor’s Fences
Stone’s Office Equipment 
Foundation For Care
Gather Workspaces
Handi Maids
Heartland Concrete 
IdeaWeavers 
Intercept Health 
Kinloch Capital
Lasabrosita Bakery
Light Counseling
Lucky Road Run Shop
Maxx Potential
Old Towne Counseling 
SJ Ryan Electrical
Smiley’s Auto Glass
Southern Brick
Star Commercial Janitorial Services
Studio 9:13
Sumser Insurance
Superior Walls of Central Virginia
The Restaurant Company
Triumph Residential Services
United Family Smiles
Virginia Site Concepts
Virginia Stone Products
Walker’s Carpet & Interiors
Xponent 21
Zoe RVA Therapy 

Churches, Private Schools & Daycares
Atlee Community Church
Berea Baptist Church
Bethel Bible Fellowship
Blue Ridge Fellowship
Brandywine Community Church
Calvary Baptist Church
Cinco Baptist Church
Cloverhill Church
Cloverhill Christian Academy
Chapel RVA
Crossroads Church Norfolk
Village Church
Destination Church
Dwelling Place Christian Fellowship
Engage Church
Foursquare Early Learning Center
Hartsville Christian School
Harvest Community Church of Goshen
Kirkmont Church 
Lakeview Church
Life Church and Christian Academy
Lighthouse Church
Little Lights Daycare
Movement Church
New Covenant Church
Oakland Christian Church
Passion Community Church 
Richmond Waldorf School
Venture Church

Non-Profit Organizations and Ministries
Better Business Bureau Serving Central Virginia
Better2Gether
Boys To Men Mentoring
Capital City Shining Stars
Characterworks
Chesterfield CASA
Chesterfield Chamber of Commerce
Chesterfield Food Bank
Children’s Hospital Foundation
Conexus Vision
Family Lifeline
Fatherhood Foundation
Goochland Chamber of Commerce
Good News Jail Ministry
Hanover Chamber of Commerce
Henrico CASA
Home Again
Honey Lake Clinic
Hope Out Loud
James House
Journey House Recovery
Justice Mercy International 
Kidz Blitz Ministries
Kingdom Kidz Academy
Least of the These Carolinas
Mercy Mall of Virginia
Metropolitan Business League 
National Independent Automobile Dealers Assoc
Oasis World Ministries 
Opportunity Scholars
People’s Advantage Federal Credit Union
Powhatan Chamber of Commerce
Podium Foundation
Renewal Counseling
RichClean
Virginia Independent Automobile Dealers Assoc
Safehouse Project
Senior Connections
Virginia War Memorial Foundation
Virginia Down Syndrome Association
Virginia Hispanic Chamber of Commerce